Riyadh - Sharikat Mubasher: Palm Hills, a leading real estate developer in Egypt, plans to implement residential projects in Riyadh, Jeddah, and the Eastern Province, Co-CEO and Managing Director Hazem Badran unveiled.

These plans follow Plam Hills’ announcement to establish a subsidiary in Saudi Arabia, Badran stated in an interview with Asharq Business.

He further revealed that the company studies investing in UAE, Iraq, and Oman.

On the other side, Badran noted that Palm Hills does not expect real estate prices to increase in the short term in Egypt after being stabilized during the last three months.

It is worth mentioning that Palm Hills achieved combined net profits amounting to EGP 1 billion during the first quarter (Q1) of 2024, compared to EGP 252 million in the same quarter in 2023.